Features
Martech’s True Value is in Playing the Long Game
By Hetarth Patel, Vice President – Growth Markets (MEA, Americas, APAC), WebEngage
Businesses today are increasingly turning to marketings technology (Martech) solutions to engage customers, streamline processes, and boost revenue. But while the promises of AI-driven insights and automated marketing strategies are compelling, expecting instant results from Martech is a common misstep – one that often leads to disappointment.
The truth is, Martech’s value doesn’t lie in quick wins. Martech solutions are most powerful when viewed not as a short-term fix, but as strategic investments that, with patience, yield significant returns.
Building a Foundation for Sustainable Growth
When implemented, Martech tools such as customer engagement platforms, automation, and AI are designed to help businesses understand their customers better, personalize engagement, and refine marketing strategies. Expecting these solutions to deliver immediate results overlooks their real strength: continuous improvement. AI-driven tools, for instance, rely on data collection and analysis over time to learn, adapt, and improve customer interactions.
The key to unlocking Martech’s potential lies in allowing it to mature. AI algorithms, predictive analytics, and data-driven decision-making are most effective when continuously fed with real-world customer data. Over time, these systems become more refined and capable of driving personalized, targeted campaigns that resonate with customers. This is where Martech excels – by creating meaningful customer interactions that gradually enhance relationships and improve lifetime value.
Measuring Success Over the Long Term
A major challenge for many businesses lies in how success is measured. Martech-driven retention strategies, for example, focus on fostering long-term relationships with customers rather than solely driving short-term sales. While acquisition-focused campaigns often show quick returns, retention strategies are slower to yield noticeable gains. However, the long-term impact of retention on profitability is well-documented. Retained customers spend more, stay loyal longer, and are more likely to become brand advocates.
While many businesses face pressure to demonstrate quick wins, the conversation around long-term growth strategies is evolving. Investors, particularly in direct-to-consumer (D2C) sectors, have traditionally focused on acquisition metrics, pushing businesses to chase rapid customer growth. However, there is a growing realization that acquisition alone cannot sustain profitability in the long run. As acquisition costs rise and markets become more competitive, retention has emerged as a critical metric for maintaining long-term stability and growth.
For many businesses, a shift in focus can be challenging. Leaders who are used to seeing immediate returns on acquisition efforts may find the slower, more gradual impact of retention strategies frustrating. But retention-focused Martech tools today provide upsides that can soften the transition, such as the ability to predict churn and proactively address issues before they become costly.
Martech thrives in environments where businesses are willing to invest time in understanding the nuances of customer behavior. Customer Data Platforms (CDPs) and AI-driven engagement tools are most effective when used to gather insights over extended periods. And to fully realize the impact of these solutions, businesses must move beyond the traditional metrics of immediate sales and instead evaluate success using broader measures such as customer lifetime value (CLV) and retention rates.
Understanding Your Pace
It’s also worth noting that Martech adoption varies across industries. Retail businesses, for example, have been early adopters of Martech, using these tools to create seamless omnichannel experiences and personalized customer interactions. Meanwhile, industries like fintech have been more cautious, often prioritizing data security and regulatory compliance over rapid transformation.
This variation highlights an important lesson: Martech’s journey is not the same for every business. Some industries may see quicker returns due to customer-facing applications, while others may need more time to integrate Martech into complex, regulated environments. Regardless of the timeline, the focus should remain on ensuring that Martech is adapted to the business’ needs and allowed to evolve with continuous refinement.
Success with Martech requires patience. Businesses that rush to judge the effectiveness of their platforms based on short-term gains often miss the compounding benefits of long-term use. Viewing Martech as a long-term partner rather than just a category of tools may be a good lens from which to approach the subject. There can be significant merit in outlasting your competition rather than simply outpacing them in the short term.
Features
The Role of Technology in Elevating Quality and Sustainability
By: Gautam Aggarwal, Managing Director of Gautam Rice
In today’s fast-evolving food and beverage (F&B) sector, the role of technology has moved beyond convenience to become a cornerstone for quality assurance, sustainability and operational efficiency.
Gautam Rice, the UAE’s most-consumed brand of basmati rice and the country’s largest importer of basmati rice – as well as a leading rice distributor across key regional markets – exemplifies how leveraging advanced technologies can elevate traditional practices and meet the shifting demands of modern consumers.
At the heart of our commitment to premium quality is the integration of cutting-edge technology in our rice milling and quality control processes.
One of the pivotal innovations is the use of SORTEX machines. Considered the gold standard in rice milling, SORTEX machines are equipped with advanced cameras and AI-driven systems to meticulously sort and remove impurities, discoloured grains and other unwanted particles.
This is achieved by using precise “air bullets” – ensuring each batch meets stringent quality standards. Additional quality control equipment such as moisture metres, whiteness testers and length graders help guarantee the consistency and integrity of each and every grain.
Quality isn’t just a standard – it’s a promise made possible through the smart integration of technology. This precision-driven approach ensures consumers receive the finest quality rice in every bag, reinforcing our commitment to excellence.
Sustainability through technological integration
Sustainability in the F&B sector is not just about green initiatives; it’s about embracing innovative solutions to reduce environmental footprints.
We’ve embedded sustainability into our core by incorporating solar power in our production facilities in India, significantly cutting down on carbon emissions.
Beyond energy, we’ve reimagined packaging processes with a focus on recyclability. By using recyclable materials and implementing a circular recycling programme, we’re able to collect and repurpose used rice bags for multiple industries, minimising waste and promoting eco-friendly practices.
This commitment to sustainability is a strategic initiative where technology plays a crucial role. With growing global concerns about the environment, we aim to set an example of how technology-driven sustainability can align with operational goals.
For many F&B companies, the challenge lies in finding the right balance between traditional practices and technological advancements. At Gautam Rice, we strike this balance. A key traditional practice we uphold is ageing rice for two years, for example. This ageing process, entirely natural and technology-free, enhances the aroma, flavour and texture of the rice, resulting in a premium product, perfected through time-honoured techniques.
While the ageing process remains deeply rooted in tradition, we also leverage data analytics and advanced sorting technologies to maintain consistency, quality and efficiency in other areas. This dual focus on tradition and technology enables us to preserve our legacy while innovating for the future.
Data analytics drive efficiency
The modern supply chain is a complex network, and in the competitive landscape of the F&B industry, having a robust system for demand forecasting and procurement planning is crucial. We’ve embraced data analytics to gain valuable insights into market trends and consumer behaviour. This data-driven approach enables us to optimise our distribution network and plan procurement in advance, reducing waste and ensuring product availability across markets like the UAE, Oman and KSA.
In a region characterised by dynamic market demands, proactive use of analytics not only drives efficiency but also fosters agility in meeting consumer needs.
Packaging is a vital component in maintaining product integrity, especially during long-distance shipments. We’ve made significant strides in packaging by adopting multi-layer food-grade solutions that provide superior protection against moisture and contamination. All packaging materials are food-controlled and certified for safety.
As with many other business areas, the global F&B sector is clearly undergoing a digital transformation to keep pace with changing consumer expectations and supply chain complexities. Our approach to digital transformation is comprehensive. By using data analytics, remote work setups and digital tools, we maintain seamless communication and operational efficiency. In an industry where adaptability is key, our investment in digital solutions enables us to stay agile and responsive to market dynamics.
The importance of technology in the F&B sector cannot be overstated. For companies like ours, leveraging technology is not just about staying competitive; it’s about elevating quality, ensuring sustainability and meeting the evolving expectations of consumers. By combining traditional practices with advanced technology, Gautam Rice has set a high standard in the industry – highlighting how technology can be harnessed to create a better, more sustainable future for all.
Features
Transforming Internal Audit: A Strategic Imperative for Middle East Fintech
By Sanjay Rajagopalan, Managing Director, Protiviti Member Firm for the Middle East region
A transformative wave is sweeping across the financial landscape in the Middle East. Our region, long known for its oil wealth and traditional banking strongholds, is rapidly emerging as a global fintech hub. From the gleaming towers of Dubai International Financial Centre to the innovative startups in Riyadh and the tech incubators of the Abu Dhabi Global Market, we are witnessing a digital renaissance that promises to reshape our economic future. Yet, as we stand on the edge of this exciting new era, we face a critical challenge that demands our immediate and urgent attention: the evolution of internal audit standards in the face of technological disruption.
The fintech revolution signifies a seismic shift that’s redefining our financial systems. Blockchain technology is challenging traditional notions of transaction verification. AI is revolutionizing credit scoring and risk assessment. Big data analytics are providing unprecedented insights into consumer behaviour and market trends. In this rapidly evolving landscape, our traditional approaches to internal auditing are quickly becoming obsolete.
As leaders in the Middle East‘s financial sector, we must recognize that this technological shift presents both immense opportunities and significant risks. The potential for growth and innovation is considerable, but so too are the challenges of cybersecurity, data privacy, and regulatory compliance. In this context, the global evolution of internal audit standards is essential to our region.
A Strategic Shift in Internal Auditing
The new Global Internal Audit Standards represent a more integrated and strategic approach of the auditor’s role in the digital age. No longer can we view internal auditing as a retrospective and siloed function, focused solely on financial reporting and compliance. Instead, we must embrace a forward-looking, strategically oriented approach that positions internal audit at the very heart of our organizations’ decision-making processes.
This strategic shift encompasses several key dimensions. First and foremost is the move towards proactive risk management. In the fast-paced world of fintech, waiting for risks to materialize before addressing them is a luxury we can no longer afford. Our internal audit functions must evolve to become proactive risk management partners, working together with executive leadership to anticipate and mitigate potential threats before they emerge. This requires a deep understanding of both technological trends and the unique regulatory landscape of the Middle East.
Equally crucial is the integration of technology into the audit process itself. As our fintech firms leverage increasingly sophisticated technologies, our auditors must become technology experts. They need to understand not just the mechanics of blockchain or AI but their strategic implications for our businesses. This technological proficiency will enable our auditors to provide valuable insights on everything from system vulnerabilities to the ethical implications of algorithmic decision-making.
The focus on operational efficiency is another crucial aspect of this evolution. In the competitive world of fintech, operational agility is vital to success. The new audit standards emphasize continuous auditing and real-time monitoring, leveraging advanced analytics to provide timely insights that can drive operational improvements. By embracing these approaches, our internal audit functions can become catalysts for innovation and efficiency across our organisations.
Perhaps most importantly, the evolving standards call for internal audit to align closely with organisational strategy. Internal auditors must understand the ‘how’ of our operations and the ‘why’ – the strategic goals and market positioning that drive our decision-making. Only then can they provide valuable insights that help steer our organisations toward long-term success.
The Urgency of Adaptation
The need for change is urgent, particularly in our region. The Middle East’s fintech sector is growing at an unprecedented rate, with investments pouring in from local and international sources. Our regulatory bodies, from the UAE’s DFSA to Saudi Arabia’s SAMA, are developing innovative frameworks to support this growth. In this dynamic environment, we must maintain our internal audit practices. The cost of inaction is high. Firms that fail to adapt risk not only regulatory non-compliance but also strategic obsolescence. In a sector where trust is paramount, robust and forward-thinking internal audit practices are essential to maintaining investor confidence, consumer trust and stakeholder expectations.
A Roadmap for Transformation
Transforming our internal audit functions to meet these new challenges will require concerted effort and strategic investment. A comprehensive roadmap for change must begin with a focus on talent. We need to attract and retain auditors who are both financially savvy, technologically proficient, and strategically minded. This may involve rethinking our recruitment strategies and investing heavily in ongoing training and development for upskilling people.
Hand in hand with this focus on talent must come a wholehearted embrace of technology. Our audit functions need to be at the forefront of technological adoption. This means investing in advanced analytics platforms, AI-powered audit tools, and robust cybersecurity systems. These technological investments will not only enhance the efficiency of our audit processes but also ensure that our auditors are equipped to understand and evaluate the cutting-edge technologies being deployed across our fintech sector.
Fostering collaboration is another crucial element of this transformation. Breaking down silos between internal audit and other organizational functions is essential. We must create cultures where auditors work closely with IT teams, risk management professionals, and business strategists. This collaborative approach will ensure that our audit functions have a holistic view of our organizations and can provide insights that are truly valuable at a strategic level.
Our audit methodologies too, must evolve to become more agile, risk-focused, and forward-looking. This may involve adopting new frameworks that emphasize continuous auditing and predictive risk assessment. Moving away from periodic, retrospective audits towards a model of ongoing monitoring and analysis, we can ensure that our audit functions provide real-time insights that drive business performance.
Finally, as our audit practices evolve, we need to maintain open dialogues with regulatory bodies to ensure alignment and contribute to developing supportive regulatory frameworks. The Middle East has the opportunity to lead the way in crafting regulatory environments that foster innovation while maintaining robust risk management practices. Our internal audit functions can be crucial in shaping these regulatory conversations.
A Call to Action
The evolution of internal audit standards presents an opportunity for change. By embracing this change, we can keep pace with global best practices and define the future of internal auditing in the digital age. As leaders in the financial technology space, we must champion this transformation within our organisations. We must allocate the necessary resources, drive cultural change, and position internal audit as a strategic partner in our journey toward innovation and growth. The path ahead is challenging, but the rewards are immense. By revolutionising our approach to internal auditing, we can build more resilient, efficient, and trustworthy financial institutions. We can create an environment that fosters innovation while maintaining the highest risk management and corporate governance standards.
Features
The Role of Communication Technology in Transforming Hospitality: A GITEX 2024 Perspective
Sheena Philip, Managing Director Ben InfoTech, Fanvil
Hospitality has taken a quantum leap forward—not just in the form of plush hotel rooms or scenic vistas, but also in these hyper-connected times. It’s about crafting frictionless, tailored experiences for guests—from the reservation process to everything that follows—and communication technology is at the heart of this shift. This transformation was vividly highlighted at GITEX Global 2024 in Dubai, where the integration of digital tools into service standards was showcased. This evolution in hospitality, closely observed by Ben Info Tech, is not just about adopting new gadgets; it signifies a fundamental reshaping of operational practices and guest interaction paradigms.
The UAE, with its world-class hotels and forward-thinking tech vision, has emerged as a global hub for hospitality innovation. The theme of “Global Collaboration to Create the Future AI Economy” at the recently concluded GITEX Global 2024 provided the perfect platform to showcase how AI-driven communication tools are subtly yet fundamentally transforming guest interactions with hotels and resorts. This convergence of cutting-edge technology and guest services is not merely a trend—it’s a cultural shift
Intelligent Communication: Crafting Unforgettable Guest Journeys
The journey of enhancing guest experiences begins well before they set foot in the hotel, with communication technologies playing a pivotal role in setting the tone for their stay. From automated booking confirmations to personalized devices in guest rooms, every touchpoint is designed to forge an emotional connection, making the guest feel effortlessly looked after. The exposition at GITEX 2024 highlighted technologies that not only meet but exceed guest expectations through advanced IP phones and interactive touchpoints that allow guests to customize their stay with simple taps or voice commands. Such innovations enhance convenience and craft experiences that resonate on a personal level.
Take, for instance, advanced IP phones and interactive touchpoints that streamline guest services. Gone are the days of relying on a front desk call for basic requests. With these devices, guests can now control room settings, request room service, or even customize their stay, all with a few taps or voice commands. It is far beyond bells and whistles; these communication solutions place practicality first and foremost. They help staff manage personal preferences, anticipate needs, and respond to requests faster by integrating with hotel management software. Such differentiators are critical in a journey to stand out amidst a myriad of perfect hotel options in a city like Dubai where hotel standards are stratospherically high!
Operational Mastery: The Backbone of Hospitality Excellence
Beyond guest-facing technology, the real unsung heroes in this digital evolution are the systems working tirelessly behind the scenes. While a guest’s experience may revolve around convenience, comfort, and personalization, the hospitality industry runs on the efficiency of its operations. GITEX 2024 offered a glimpse into how internal communication is being transformed, elevating staff collaboration and response times.
Smart communication devices integrated with Property Management Systems (PMS) allow staff across various departments to coordinate with minimal disruption to guest services. These tools reduce manual errors and are critical in ensuring that luxury hotels in cities like Dubai can offer world-class service while maintaining high operational efficiency.
Security at the Forefront: Tech-Enabled Peace of Mind
In a city that welcomes millions of visitors each year, safety is paramount. Guests today expect their privacy and security to be seamlessly managed through technology, and communication tools play a crucial role in delivering this. The integration of communication devices with security systems, highlighted during the expo, offers a multi-layered defense, providing peace of mind to guests and staff alike. AI-based monitoring systems, which link real-time communication platforms with security management, are reshaping hotel security dynamics, allowing for prompt responses to any unusual activities. AI-based monitoring systems have also changed the dynamics of security in hotels by linking them with real-time communicating platforms. From tracking access points to managing emergency responds to unusual activities, these systems builds a solid security framework.
Looking Towards Tomorrow: Hospitality’s Next Tech Frontier
The transformation sparked by communication technology in hospitality is just the beginning. As showcased at GITEX 2024, the future holds even greater potential for integrated, AI-powered communication systems that not only anticipate guest needs but also optimize hotel operations to a degree we’re only beginning to imagine. As the industry looks ahead, companies like Ben Infotech are playing a pivotal role by offering devices that are both innovative and practical. Our range of hotel communication devices from Fanvil, for instance, exemplifies the kind of forward-thinking technology that is driving this transformation. These business-grade devices tailored for hospitality and hotel applications come with HD audio, LED programmable keys, and integrations with the Hotel Management System. From an IP phone in the guest room to a lobby intercom, the right communication device can revolutionize hotel operations and guest experiences. The commitment of Ben Info Tech to adopting these technologies ensures that their hospitality partners are not just keeping pace with technological advancements but are staying ahead of them. As the industry evolves, the focus remains on providing experiences that are not only seamless and secure but also uniquely tailored to the needs of guests and the operational demands of the hospitality sector.
As technology continues to propel the hospitality industry forward, Ben Info Tech’s contributions in embracing and implementing these innovations underscore its pivotal role in the sector’s ongoing transformation. As highlighted at GITEX 2024, the next wave of digital transformation in hospitality has arrived—centered around smarter, more connected communication. Hotels are not only meeting modern expectations by integrating innovations to enhance guest experiences, but also by leveraging these technologies for improved internal operations. With the UAE positioning itself as a key hub for both hospitality and technological advancements, communication and collaboration solutions will remain central to this evolution—delivering seamless, secure, and personalized experiences for both guests and staff.
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